Story by Wellington Makonese
Local industry leaders have underscored the importance of resilience and innovation in navigating the complex economic landscape of Zimbabwe to realise development.
As the country grapples with sanctions induced challenges such as inflation and geopolitical tensions among other economic setbacks, businesses are being implored to adapt and evolve.
The call for resilience and innovation has resonated with the financial services and manufacturing sector, among other industries.
“We need to be agile, innovative, and resilient. And I think one of their key strengths that they have depended on is how they are innovative in terms of finding solutions for their clients, being able to be relevant in each time that they are serving their clients. I think every business has its challenges that it meets, and the ability to be able to work yourself to get solutions within an environment speaks volumes of a business. That has been one.
“Here in Zimbabwe, I think we know the economy has been quite turbulent. There’s been so many challenges, from currency to business itself, but they’ve been able to all afford and take quality of life in business, which has run them 20 years,” said ZB Bank CEO, Mr Shepherd Tapiwanashe Fungura.
“To survive and thrive, we need to invest in research and development, adopt new technologies, and explore new markets. I think the business just has to be agile. You know, if you stick to doing things traditionally then a lot of them have fallen on the wayside. But you find that they adapt. As I said, it’s digital, they adapt. The currencies changed, they adapt. Companies cut on budgets, they adapt. So it shows that working with all these big brands and they stick to them all this time with the ups and downs of the economy just shows that their relationships are not transactional but they are actually long-term. Which is something very good that some businesses don’t get in this era,” explained Head of Commercial Khayah Cement,
Ms Zanele Dube.
As Zimbabwe continues to navigate its economic journey, experts have opined that the ability to adapt to new business models, diversify products and invest in emerging technologies, will be key to creating new revenue streams and staying ahead of industry evolving demands.
